Scientific International Signs Off on a $900 Million Term Loan

Scientific International Signs Off on a $900 Million Term Loan

Scientific Games International Subsidiary Completes a Series of Financing Transactions

Scientific Games announced, this week that its subsidiary, Scientific Games International has completed a series of financial transactions. They also reported that the company finalized a private offer of new senior secured notes amounting to 325 million that was issued at a price of 100% and is due by 2026.

Scientific International signed off on a $900 million term loan that is classified as a upsizing and repricing B facility loan, and that was under a contract agreement that would reduce the applicable interest rate. One of the latest transactions included a $900 million note that was used for the principal amount of one of the 5.000% senior notes that was issued at a price of 100.0% and was due in 2025.

The gaming company said that all net proceeds of the above-mentioned financing transactions would be used to redeem all $2.1 billion of its secured notes that is due by 2022, and they would repay some of its revolving credit borrowing power. Scientific also noted that its cross-currency interest rate arrangements will have an impact of the financing transactions with lowing its annual cash interest cost of around $69 million.



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